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BASE Jumping Equipment Market

BASE Jumping Equipment Market

BASE Jumping Equipment Market Analysis Report By Product Type (Container or Harness Systems, Canopies, Wingsuit, Helmets), By Application (Recreational Users, Professional Users), By Region - Global Insights 2022 to 2032

BASE Jumping Equipment Market
FACT430MR
  • Status: Ongoing
  • June 2022
  • Sports

Global BASE Jumping Equipment Market Outlook

The global BASE jumping equipment market is estimated at USD 228.9 Million in 2022 and is forecast to surpass USD 357.2 Million by 2032, growing at a CAGR of 4.5% from 2022 to 2032.

Report Attributes

Details

Base Year Value (2021A)

USD 220.1 Million

Estimated Year Value (2022E)

USD 228.9 Million

Projected Year Value (2032F)

USD 357.2 Million

Global Growth Rate (2022-2032)

 CAGR 4.5%

North America Market Share in 2021

~33%

North America Growth Rate (2022-2032)

CAGR ~4.8%

Collective Value Share (US, China, India) 2022: Top 3 Countries

~35%

Top 5 Companies Market Share in 2021

~19%

Key Companies Profiled

  • Apex BASE
  • Squirrel
  • GLH Systems
  • Skylark
  • Adrenalin BASE
  • Aerodyne Research, LLC
  • ATAIR Canopies
  • Bonehead Composites
  • Performance Designs
  • Sun Path Products
  • Velocity Sports Equipment
  • Other Market Players

The global BASE jumping equipment market is likely to create an absolute dollar opportunity of USD 128.3 Million by the end of 2032. The global BASE jumping equipment market holds ~64% of the global skydiving equipment and accessories market.

2017-2021 Global BASE Jumping Equipment Market Outlook in Comparison to 2022-2032 Growth Forecast

Growing individual preference for adventurous activities to de-stress and rejuvenate themselves from their deadline-driven busy lifestyle is accelerating growth in the BASE jumping industry. BASE jumping is among the most popular and thrilling air sports. Rising awareness pertaining to the long-term mental and physical benefits of such adventurous activities is further favoring growth in the BASE jumping equipment market.

The penetration of wearable and helmet cameras is expected to gain momentum as a significant trend in the BASE jumping equipment market. Leading vendors in the BASE jumping equipment market have introduced compact and lightweight wearable cameras to alleviate distraction among jumpers in a bid to prevent avoidable accidents. Such cameras allow jumpers to perform the activity freely while recording all the experiences easily in comparison to normal cameras. Vendors are increasingly investing in advanced technology to equip innovative features, such as electronic image stabilization (EIS) and optical image stabilization (OIS) in the cameras to reduce image and video jitter. These factors are likely to bring positive changes in the BASE jumping equipment market.

Fact.MR projects the BASE jumping equipment market is expected to witness exhibiting growth at 4.5% CAGR during 2022 and 2032 in comparison to a CAGR of 3.0% with which it grew from 2017 and 2021.

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Rising Popularity of Adventure Sports to Support Market Growth

BASE jumping equipment vendors are currently struggling to expand their reach due to the growing safety concerns pertaining to this adventurous activity. Life-threatening and risky nature of air sports continue to make several individuals reluctant towards this activity, however, vendors are equipping BASE jumping equipment offerings with advanced safety features to prevent fatal accidents.

The global market for BASE jumping equipment has been expanding on account of the rising popularity of adventure sports across various regional pockets. BASE stands for building, antenna, span, and earth, and all of these words are characteristic of the BASE jumping sport. BASE jumping is essentially a form of parachuting or wing-suit flying that is in great popularity across the globe. It has also become a means of competition at national and international levels, which has further propelled demand within the global BASE jumping equipment market. The tourism industry has also been a primary contributor to the growth of the global BASE jumping equipment market by making key provisions for the promotion and enhancement of the sport. Despite these drivers of demand, the unavailability of enough funds to initiate adventure sports in underdeveloped economies could restrain the growth of the global BASE jumping equipment market.

Supportive Government Initiatives to Propel Market Demand

The demand for BASE jumping equipment has been increasing across North America and Europe. This is because both of these regions are characterized by a flair for adventure sports amongst the masses. Besides this, the government in these regions is also supportive of initiatives to promote adventure sports. The market for BASE jumping equipment in Asia Pacific also holds tremendous potential for growth in the years to come.

BASE (B- Building, A- Antenna, S- Span and E- Earth) or B.A.S.E jumping is a type of parachuting activity from fixed structures. To brief about BASE jumping, it is a low altitude jumping activity which is more hazardous than skydiving from a plane. As there are many risks involved in BASE jumping, it is prohibited in several regions. BASE jumping is considered as an extreme sport or a stunt and is allowed in few places such as the Perrine Bridge. Some of the recent notable BASE jumps are: a citizen of Chile Ramon Rojas broke the record of the highest BASE jump of about 4,100 meters. In the same year, Whisper was the first dog in the world who participated in BASE jumping.

Apart from the thrilling stunt experience the individual gains from this sport, the rate of fatalities associated are also high. According to Blincmagazine.com, approximately 328 deaths during BASE jumping are recorded since the year 1981 till 2017. Hence safety equipment such as parachutes, containers, stash bags, and pilot chutes are used as safety measures in the BASE jumping activity.

An Adaptive Approach to Modern-day Research Needs

Factors Fueling Market Demand

Base jumping is considered as an adventure sport and hence there are many physical and emotional benefits associated with it that are expected to increase the number of individuals opting for this sport which in turn is expected to fuel the growth of BASE jumping equipment and hence the global market. Increasing number of sportsmen are opting for learning lessons for BASE jumping that can help them in solving problems, to have positive attitude, to increase fitness, and also to have healthy emotional balance.

As more number of people are accepting the challenge of BASE jumping, the market for its equipment is expected to grow significantly in the coming years. BASE jumping offers a life changing experience that boosts the confidence and also rejuvenates mental health. As younger generation is suffering from stress and anxiety owing to changing lifestyle, adventure sports such as sky diving and BASE jumping are gaining increasing popularity amongst the crowd, which is poised to create positive influence on the BASE jumping equipment market in the years to follow.

Factors Restraining Market Growth

One of the major factor hampering the growth of the BASE jumping equipment market is its life threatening and risky nature. BASE jumping is assumed to be more dangerous than sky diving. Owing to increasing mortality rate during base jumping, it is prohibited in many parts across the globe. Another factor that is hindering the growth of the base jumping equipment market is the risk associated with BASE jumping locations.

These locations are very small to land making the sport risky. This has resulted in reduced participation since past few years. One fatality per sixty participants is the mortality rate of BASE jumping in the year 2006. Since then this ratio has been increasing which has a restraining impact on the BASE jumping equipment market.

Competitive Landscape: Top Companies in BASE Jumping Equipment Market

The global BASE jumping equipment market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the growth of BASE jumping equipment.

Fact.MR has provided detailed information about price points of key manufacturers in BASE jumping equipment market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

Global BASE Jumping Equipment Market by Category

  • By Product Type, Global BASE Jumping Equipment Market is segmented as:

    • Container or Harness Systems
    • Canopies
    • Wingsuit
    • Helmets
    • Other Product Type
  • By Application, Global BASE Jumping Equipment Market is segmented as:

    • Recreational Users
    • Professional Users
  • By Region, Global BASE Jumping Equipment Market is segmented as:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The global value of BASE jumping equipment market is estimated to be worth over USD 228.9 Million in 2022.
The demand is anticipated to surpass USD 357.2 Million by 2032 end.
During 2017-2021, global BASE jumping equipment market grew at 3.0% CAGR.
Some of the prominent players in BASE jumping equipment market are Apex BASE, Squirrel, GLH Systems, Skylark, Adrenalin BASE, Aerodyne Research, LLC, etc.
North America tops the global BASE jumping equipment market accounting for 33.4% of global market share in 2022.
Canopies segment under the product type segment contributes 23.4% of market share in global consumption of BASE jumping equipment.

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